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it's all in the ibm cloud. if you combine that with the data your business already has- then things get interesting. so right now we're working with a retailer to blend social and inventory data to help predict demand. we can help a hotel chain match weather and local event data so they can adjust room prices from minute to minute. and another company we work with can apply analytics to sensor data to save millions in energy cost. today, every business runs on data. that's exactly why we built the ibm cloud. years ago, i was starring in a allergic to other cats.cat opening - slash - closing night it hit me: hats for cats. everyone said i was crazy. when i went online. i got my domain, catswithhats.com from godaddy. now these things are fee-ly-in' outta here. got a crazy idea you think you can turn into a success? we know you can and we've got a domain for you. go you. godaddy. ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ >>> turns out amazon's

it's all in the ibm cloud. if you combine that with the data your business already has- then things get interesting. so right now we're working with a retailer to blend social and inventory data to help predict demand. we can help a hotel chain match weather and local event data so they can adjust room prices from minute to minute. and another company we work with can apply analytics to sensor data to save millions in energy cost. today, every business runs on data. that's exactly why we built the ibm cloud. tod♪ no, you're notss ♪ yogonna watch it! ♪tch it! ♪ ♪ we can't let you download on the goooooo! ♪ ♪ you'll just have to miss it! ♪ yeah, you'll just have to miss it! ♪ ♪ we can't let you download... uh, no thanks. i have x1 from xfinity so... don't fall for directv. xfinity lets you download your shows from anywhere. i used to like that song. ♪ >>> welcome back. another bank has been hacked. investigators are linking it to the bangladesh attack that resulted in $81 million being stole

. >> what's caused more agita than a billion dollars in apple is 12 billion dollars in ibm. that was the one stock in the overall berkshire portfolio i respectfully disagree with. i have said it is a value trap and said so publicly. and it has been so far. but again, look, i don't -- to respect warren buffett and to have berkshire hathaway has the largest position in my portfolio i don't have to agree with every single investment decision and every single stock holding in the book. so in the case of apple, apple is an insanely great company. the stock looks fairly cheap. forced to go long or short i would two long it. or force to go long or short ibm i would go short it. and that is a much more massive position. so i worry about that a little more but still in the scheme of the size of berkshire hathaway, berkshire has lost 3, 4 billion. that's real money but it is sort of a rounding error at berkshire. >> so there you have it. not a position that many i think at this point probably disagree with. >> well yes. but how many times in the past has warren buffett held on to a --

today it's their mobile app running on the ibm cloud. across every transaction, the hybrid cloud helps their data move quickly and securely. our clients are building out features and pushing updates faster, on five continents. with the ibm cloud, they can move at the speed of any start-up. race car made history mercwhen it sold forprix a record price of just under $30 million. and now, another mercedes-benz makes history selling at just over $30,000. ♪ and to think this one actually has a surround-sound stereo. the 2016 cla. lease the cla250 for $299 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. >>> welcome back. sales force is moving higher by about 6%, after reporting better than expected earnings earlier this hour. ceo mark bennyhoff will be joining jim cramer tonight. >> we're thrilled this quarter to complete a significant and very strategic transaction with amazon, where every amazon employee is getting access to sales forces services. analystics, all the things that sales force does. >> you can

they lost money on ibm. warren will say it himself. he loses money on some of the investments. we don't know what they're doing behind the scenes but the engineers are not sitting still. what's different about the approach, they don't show what they're working on. with don't see things in beta and prototype stage. apple is going to improve and they're going to monetize their existing users around the world and i think there are a few things they're likely will to see that will include things around the car which is no secret in the valley. >> and virtual reality is a big opportunity for them. >> no doubt. >> they've done their best on the consumer side. they're working on it. they'll have a competitive product, but that will not be a story for the next two to three quarters. >> right. >> intelligent conversation as always. thank you. >>> we're heading to the close. we've got 37 minutes left in the trading session. the dow holding onto these gains, up 208 points. the nasdaq is the better performer today with a gain of almost 1.5%. >>> coming up the government's air travel report

today it's their mobile app running on the ibm cloud. across every transaction, the hybrid cloud helps their data move quickly and securely. our clients are building out features and pushing updates faster, on five continents. with the ibm cloud, they can move at the speed of any start-up. >>> form ag lobby group to make sure they're helping and not hurting the economy. kenneth squier from 13d monitor.com. you know the space well. do you think this lobbying group will help the public understand this space a little better? >> i think what they're trying to do is get the facts out there. the activist defense, attorneys advisers and corporations have been lobbying themselves to congress about the 13d rules and about activism. the activists want to get the facts out there, a balanced decision and informed decision can be made. >> ken, how are you doing? what's the actual potential threat they saw that might pinch their activities? >> one of the things that the activist activists, right now you have to follow 13d if you go over 5% and trying

either chase the momentum and chase the crap or wait for the good stuff to pull back, ibm being in the latter camp. i'd be a little more patient. >> rick, it does seem that the markets are taking the puerto rican default in stride. what do you think it does to the credit markets right now? >> you know, i'm thinking we receive a lot of what it's going to do, which is a lot of nothing. i think the biggest issue personally and they're hitting very close to home is how whaufr outcome we see over time of puerto rico, how that may feed into something like an illinois/chicago situation. of course, many are watching that closely. as i look at the markets today, the biggest thread that all traders and my sources seem to have shared is the weakness in dollar, the strength in gold, and how big and mackerel some of these events are when you look at the charts. so especially the current dollar index. you need to pay attention. it's the lowest since 2015 and if you look at the year preceding that. there's a lot of room here. i think these issues will come home to roost and i think that investors als

if we buy ibm, i hope we can buy more cheaper. liz: look, you buy as a long-term investor, you have always said that. so you don't get nervous when something's down 15% over the past year, but what about these companies? these older, staid companies that become complacent and invite your friends over at 3g capital, and they enter and attack because the companies have gotten too complacent? >> well, sometimes complacency's a terrible disease whether you're a new company, old company, individual or whatever it may be. i've said that it's the abcs, you know? arrogance, bureaucracy and complacency, and you've got to fight that whether you're berkshire hathaway or u.s. steel, you name the company, but you have to fight it if you're facebook. success tends to breed what i call the abcs, and good managements fight it off. liz: well, ibm, do you think it has maximized its brand potential? >> i don't think they're complacent at ale. [laughter] i -- at all. i think that they're working very hard to adjust to differences in what people expec

talking about lack of momentum near the highs and big tech earnings, pretty disappointed from microsoft, ibm, 2008 was a level a lot of traders reduced risk at and the 50 day moving average hold somewhere in between 2037-2043. lori: pretty much a classic flight to safety, treasury yields were down. how did you read the tape? >> over the last couple weeks we have seen treasury yields day lower than it is, equities rising, as we see equities rise we don't have a big selloff or inflationary worry that will coming and make those bonds selloff. that is going to tell you things are not as good, they said that again today but every single economic indicator we are seeing is just barely beating or disappointing, we are not seeing anything scary, or retail sales take off. how do you missed 0.7% expected gdp? we are not doing well. we just run out of steam with equity markets because we have no good news. lori: we are not finished with the trading session. pretty key data coming out especially the jobs report on friday. a follow-up to you. >> we were going to that jobs report because the with the camp